Thrive Wealth Management LLC Cuts Stock Position in General Mills, Inc. (NYSE:GIS)

Thrive Wealth Management LLC lowered its position in General Mills, Inc. (NYSE:GIS) by 8.3% during the first quarter, Holdings Channel reports. The institutional investor owned 5,210 shares of the company’s stock after selling 474 shares during the quarter. Thrive Wealth Management LLC’s holdings in General Mills were worth $311,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after purchasing an additional 2,926,232 shares during the last quarter. Yousif Capital Management LLC grew its position in General Mills by 0.3% during the 4th quarter. Yousif Capital Management LLC now owns 94,490 shares of the company’s stock worth $6,026,000 after purchasing an additional 277 shares during the last quarter. Y.D. More Investments Ltd grew its position in General Mills by 17.4% during the 4th quarter. Y.D. More Investments Ltd now owns 1,518 shares of the company’s stock worth $97,000 after purchasing an additional 225 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in General Mills by 23.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,449 shares of the company’s stock worth $3,731,000 after purchasing an additional 11,160 shares during the last quarter. Finally, Choreo LLC grew its position in General Mills by 7.5% during the 4th quarter. Choreo LLC now owns 26,377 shares of the company’s stock worth $1,675,000 after purchasing an additional 1,829 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GIS. Bank of America dropped their target price on shares of General Mills from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. UBS Group began coverage on shares of General Mills in a research report on Wednesday, April 23rd. They set a “sell” rating and a $54.00 target price on the stock. Wells Fargo & Company dropped their target price on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Citigroup dropped their target price on shares of General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Finally, Stifel Nicolaus dropped their price objective on shares of General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $64.69.

General Mills Stock Performance

GIS opened at $54.48 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The firm has a fifty day moving average price of $55.95 and a 200 day moving average price of $59.72. General Mills, Inc. has a 1 year low of $52.39 and a 1 year high of $75.90. The stock has a market cap of $30.03 billion, a P/E ratio of 11.84, a P/E/G ratio of 1.94 and a beta of 0.02.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.04. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the previous year, the business posted $1.17 EPS. The business’s revenue was down 5.1% compared to the same quarter last year. Equities research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.